Solana (SOL) has undoubtedly been one of many main winners of the current crypto rally after notching over 60% positive factors on the weekly chart. Because it has grown a lot, expectations of a draw back are frequent. Nonetheless, one crypto analyst is bucking this development as they see a continued breakout for the altcoin.
Solana To Breakout To $55
Within the put up shared by crypto analyst Babenski on TradingView, we will see the place the analyst expects the worth of Solana to finish up. The chart which already exhibits Solana’s value surge above $30 suggests an virtually 100% leg-up from this excessive stage.
Babenski makes use of the Solana weekly chart wherein they see the worth breaking out. This comes as no shock provided that Solana has carried out higher on the weekly chart in comparison with the day by day chart with a 60.89% enhance for the previous and a 30.49% enhance for the latter.
The crypto analyst additionally factors out that SOL would want to avoid wasting a key stage whether it is to proceed this breakout. From the chart, this key stage seems to be the $25 mark that was strongly defended by the bears earlier than the SOL value rally started.
Solana’s closing value on Monday was additionally the best weekly shut for the reason that FTX crypto change crashed again in 2022. So Babenski believes that as lengthy that Solana maintains the highlighted key stage, then the SOL value “appears to be like very bullish in coming days.”
SOL Bullish Contagion Spreads
Babenski isn’t the one crypto analyst who sees additional breakout for Solana. One other analyst Alan Santana on the identical platform shares the bullish outlook however with an excellent greater price ticket that exceeds Babanki’s $55 prediction.
Alan Santana really sees SOL reaching as excessive as $150, which is nearly 3 times Babenki’s high prediction. Santana additionally factors out the truth that SOL had been in consolidation since 2022 and the truth that the altcoin simply broke out of it’s extremely bullish.
The analyst’s first cease on the best way to that is $113 earlier than persevering with onward and rising as excessive as $153. “Solana’s potential in direction of 150 is now really easy and so shut it’s getting scary,” the crypto analyst wrote.
Though Solana’s value is at the moment sitting at $31.47 on the time of this writing, each predictions really count on the worth to double from right here. There are not any timeframes included on each predictions. However except Bitcoin continues to take care of its place as the primary mover, SOL must decouple from the main cryptocurrency to realize these value factors.
SOL value rests at $31.65 | Supply: SOLUSD on Tradingview.com
Featured picture from PYMNTS, chart from Tradingview.com